Debt Relief - How to Avoid Paying Back Credit Card Debt in Full

I would not be surprised if your first reaction is--is it even possible? To not only get rid of your credit card debt but to escape it without paying it in full sounds like a dream. Well, there was a time when credit card issuers would insist on their pound of flesh no matter what happens.

However, times have changed and you should understand that you should benefit from these changes. You should learn more about the various changes in the economy and the financial condition with the help of the World Wide Web. You will realize that the huge number of bankruptcies that hit the economy hurt the financial lenders very hard.

Their prime assets declared bankruptcy by the millions and they are left standing with nothing in their hand. They were forced to get in touch with the government and request the stimulus package for their existence.

The government has passed on the benefits but with a soft instruction that the same should be passed on to the borrowers as well. That is exactly what is happening as far as the debt relief is concerned.

Today, you can get in touch with your service provider and request a 50% to 70% reduction in the total amount owed. In exchange of this, you shall not be making any payment whatsoever. Use shall promise to pay the balance amount in a faced manner. That is the best that you can do.

If credit card issuers do not agree to such transaction, you probably will opt for bankruptcy. When such a message is passed to the credit card issuers, they will definitely be interested in helping you out.

Once the debt is brought down to zero, the same shall be reported to your credit history as a settled debt. You even have the option of negotiating on this point as well. You can request your service provider to charge a bit extra but to specify to the credit history that the debt has been repaid in full. Again, do not go into the question whether this is right or wrong. The question is whether you can secure maximum benefits for your future or not.

The end result of such a transaction is that your credit card debt will come down to zero with minimum effort on your side. The card issuers do not lose money because they have earned a lot in the form of interest and penalties. You too stand to gain because you get another opportunity of improving your finances and overcoming your financial problems.

If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called "Free Debt Relief Networks" that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below: